Robinhood is likely to be planning to go public early subsequent 12 months, in line with a current publication by Bloomberg. This buying and selling platform, whose reputation has risen prior to now few years, is reportedly searching for advisers within the banking area to help its Preliminary Public Providing (IPO) course of.
Per the Bloomberg report, Robinhood might go public as quickly as Q1 of 2021; sources opted to stay unidentified given this info’s personal nature. Nonetheless, they have been additionally eager to focus on that the agency may change this place and abandon the IPO plan altogether.
Whereas Robinhood’s official sources are but to remark, this transfer is likely to be a game-changer for the buying and selling platform, given its worth proposition to novice traders. Robinhood has develop into a darling to millennials and the tech-savvy Gen-Z, giving them publicity to varied beforehand cumbersome property to commerce.
In truth, it is likely one of the widespread buying and selling platforms with entry to crypto-assets and enjoys the backing of tech-focused VC’s akin to Sequoia Capital. Different outstanding traders which have allotted funds to Robinhood embrace Index Ventures, Andreessen Horowitz, Ribbit Capital, DST International, and D1 Capital Companions.
The most recent Robinhood valuation is $11.eight billion; this was after the agency raised its sequence G funding, which totaled $200 million. With the murmurs of an IPO, Robinhood might quickly be listed in the usstock markets, a transfer that may expose the agency to extra market liquidity.